Atal Pension Yojna: Finance Minister Nirmala Sitharaman is going to present the budget for the financial year 2025-26 on February 1, on which the eyes of the whole country are fixed. It is expected that in this budget, the government can make a big announcement regarding Atal Pension Yojana (APY).

With the aim of increasing social security, the government can double the amount of minimum pension available under the scheme. At present, the minimum monthly pension amount is Rs 1,000 to Rs 5,000. However, it depends on your contribution how much pension you will get.

Government’s plan to double monthly pension

According to sources, the government can approve the proposal to increase the pension available under the scheme. The proposal to increase the minimum guarantee amount to Rs 10,000 is in the final stage and it can be announced in the budget. Let us tell you that Atal Pension Yojana (APY) is a pension scheme of the government,

which aims to provide financial help to the poor and those working in the unorganized sector in old age. In this scheme started by the Pension Fund Regulatory and Development Authority (PFRDA) in the year 2015-16, those who deposit money get a monthly pension of Rs 1,000 to Rs 5,000.

This is the biggest feature of the scheme

The biggest feature of Atal Pension Yojana is that if the beneficiary dies, the nominee gets the entire money. To open an Atal Pension Yojana account, the age should be between 18 to 40 years.

If you want to apply for the scheme, you must have your own bank account. To avail the scheme, take the registration form from the bank in which you have a savings account or download it from the website. After this, fill the details in the form and choose the pension option. Then submit the form along with Aadhar card and other necessary documents.

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Which ensures the security of their income after retirement. Under this scheme, if you invest Rs 210 every month from the age of 18, then after the age of 60, you can get a pension of Rs 5,000 every month for life and Rs 60,000 annually. If you look at the daily expenditure of Rs 210, it comes to just Rs 7. The purpose of this scheme is to provide security of income source to the people of the unorganized sector after retirement.

You will get 60,000 rupees pension annually

Under APY, you can get a pension ranging from Rs 1,000 to Rs 5,000 per month, and the amount of your pension depends on the investment you make. For example, if you want a monthly pension of Rs 1,000 and start investing at the age of 18, you only have to contribute Rs 42 per month. Similarly, for a monthly pension of Rs 5,000, you will have to invest Rs 210 per month at the age of 18. That is, you will get a pension of Rs 60,000 annually. The sooner you join this scheme, the more benefits you can get.

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The government is running Atal Pension Yojana in which any employee or worker associated with the unorganized sector can get pension. By investing Rs 210 in Atal Pension Yojana, you can get a pension of Rs 5,000 per month. That is, you can get a pension of Rs 60,000 annually for your entire life. Let us know the benefits of this government scheme.

You will get pension of Rs 60000 in just Rs 210

By depositing just Rs 210 every month, you can get a maximum pension of Rs 5,000 every month after retirement i.e. after 60 years. Guaranteed pension is available under the government run Atal Pension Yojana. According to the rules, if a maximum of Rs 5,000 is added for monthly pension at the age of 18 years, then you will have to pay Rs 210 every month. If you pay the same amount every three months, you will have to pay Rs 626 and if you pay every six months, you will have to pay Rs 1,239. To get a pension of Rs 1,000 per month, if you invest at the age of 18, you will have to pay Rs 42 monthly.

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Benefits of Atal Pension Yojana

The government brought the Atal Pension Scheme in the Budget 2015-16 keeping in mind the security of income in old age. The government encourages common people, especially those associated with the unorganized sector, to save as much as possible. People associated with the unorganized sector also have to be protected from the risk of not having income after retirement. The scheme is run by the Pension Fund Regulatory and Development Authority (PFRDA).

Will get pension of Rs 60,000 annually

Under Atal Pension Yojana, customers get pension ranging from Rs 1,000 to Rs 5,000 every month. The Government of India guarantees the minimum pension benefit. The central government contributes 50 percent of the subscriber’s contribution or Rs 1,000 annually, whichever is less. Government contributions are paid to people who are not covered under any statutory social security scheme and are not taxpayers. Under the scheme, pension of Rs 1,000, 2000, 3,000, 4,000 and 5,000 is available. Investment also depends on the amount of pension. You get more benefits if you join at a young age.

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By depositing just Rs 210 every month, you can get a maximum pension of Rs 5,000 every month after retirement i.e. after 60 years. The name of this government scheme is Atal Pension Yojana in which guaranteed pension is given every month. In this you can invest based on your investment ability and the pension you will get after retirement.

What is Atal Pension Yojana?

The government has brought Atal Pension Yojana in the Budget 2015-16 keeping in view the security of income in old age. Through this scheme, the government is encouraging the common people, especially those associated with the unorganized sector, to save as much as possible. People associated with the unorganized sector also have to be protected from the risk of not having income after retirement. This scheme is being run by Pension Fund Regulatory and Development Authority (PFRDA).

Will get pension of Rs 5,000 every month

Under Atal Pension Yojana, customers get pension ranging from Rs 1,000 to Rs 5,000 every month. The Government of India guarantees the minimum pension benefit. The central government contributes 50 percent of the subscriber’s contribution or Rs 1,000 annually, whichever is less. Government contributions are paid to people who are not covered under any statutory social security scheme and are not taxpayers. Under the scheme, pension of Rs 1,000, 2000, 3,000, 4,000 and 5,000 is available. Investment also depends on the amount of pension.

Atal Pension Yojana is for all citizens of India between the age of 18 to 40 years.

You will have to pay Rs 210 every month

According to the current rules, if at the age of 18 years a maximum of Rs 5,000 is added to the scheme for monthly pension, then you will have to pay Rs 210 and Rs 7 every month. If you pay the same amount every three months, you will have to pay Rs 626 and if you pay every six months, you will have to pay Rs 1,239. To get a pension of Rs 1,000 per month, if you invest at the age of 18, you will have to pay Rs 42 per month.

You will get more benefits if you join at a young age.

Suppose if you join for a pension of Rs 5,000 at the age of 35, then you will have to deposit Rs 5,323 every 6 months for 25 years. In such a situation, your total investment will be Rs 2.66 lakh, on which you will get a monthly pension of Rs 5 thousand. Whereas if you join at the age of 18, your total investment will be only Rs 1.04 lakh. That means, for a single pension, you will have to invest about Rs 1.60 lakh more.

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In response to this question in the Lok Sabha, Union Minister of State for Finance Bhagwat Karad said that with the increase in the amount in pension, the amount of pension i.e. installment will also increase. The increase in the subscription money of Atal Pension Yojana will put a burden on the subscribers. This is the reason why the government led by PM Narendra Modi has decided not to increase the Atal Pension Yojana pension money.

Government replied

According to Union Minister of State Bhagwat Karad, Atal Pension Yojana is a minimum guaranteed pension scheme and any increase in the pension amount will also increase the amount paid by its members, which is likely to further burden the subscribers. Hence the Government has decided to continue the scheme with the same terms and conditions and not to carry forward the pension and subscription amount.

Benefits of Atal Pension Yojana

Earlier, PFRDA Chairman Hemant Ji Contractor had sent a proposal to increase the pension for the purpose of increasing the subscriber base of Atal Pension Yojana. At present, the government gives 5 pension slabs ranging from Rs 1,000 to Rs 5,000 to the people who invest money in Atal Pension. PFRDA got response from the market in which most of the subscribers demanded increase in pension. Most everyone said that Rs 5,000 at the age of 60 is not enough in times of inflation.

This much pension is guaranteed

A person who enrolls and invests money in the Atal Pension Yojana gets a guaranteed maximum pension of Rs 5,000 per month till death after the age of 60 years. One can change the amount of pension once in a financial year. If the subscriber dies before the age of 60 years, the spouse can continue to make payments to the subscriber’s Atal Pension Yojana account. For those who are below 60 years of age, early exit is allowed under Atal Pension Yojana.

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